Market Recap: Bitcoin, Ethereum, Ripple, Storj, and Other Cryptocurrencies Experience Mixed Trading Day
The global market cap experienced a slight decrease of 0.67% within a day, reaching $1.21 trillion at the time of writing. The fear and greed index, according to CoinMarketCap, currently stands at 63, indicating improving market sentiment.
Bitcoin (BTC) is currently trading at $30.8K, with a daily decline of 0.66%, but still showing a weekly gain of 1.3%. Resistance around the $31K level has pushed the price down from $32K. However, the trade volume for Bitcoin has dropped by 29% during the same period and currently stands at $14 billion.
The converging Bollinger bands for Bitcoin suggest a decrease in volatility. On the other hand, the Relative Strength Index (RSI) is below its average line, indicating a negative trend as bears attempt to gain control of the market.
Ethereum (ETH) has also started the week slowly, with a 0.9% loss within a day of trading, bringing its price to $1938. The trading volume has also dropped by 35% to $5 billion. ETH’s volatility levels are gradually decreasing, as indicated by the relatively close distance between the Bollinger bands.
However, the RSI indicator for Ethereum is moving above its average line, suggesting a likely bullish trend as bulls push for market dominance. The MACD indicator is also in the positive region, indicating the efforts of bulls to dominate the market.
Ripple (XRP) witnessed a relatively uneventful trading day, with a 0.12% decline in value to $0.487 within 24 hours. The trading volume also fell by 24% to $777 million. The convergence of Bollinger bands suggests reduced volatility for XRP. Additionally, the RSI is moving above its average line, reflecting the efforts of bulls to dominate the trading session.
Storj (STORJ) made significant movements in the market, rallying 50% within a day of trading and reaching a price of $0.526. The current market cap stands at $215.82 million, with a trading volume of $636.12 million. Storj exhibits relatively high volatility as the Bollinger bands diverge, indicating increasing volatility levels. The relative strength indicator is also above its average line, highlighting the bullish efforts to dominate the market. The MACD indicator remains positive as bulls maintain control.
Other notable gainers include Aave (AAVE), which currently trades at $79.72, representing a 5.8% gain within a day. Dogecoin (DOGE) also experienced mild increases of 0.6% within the same trading period.
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